Page | 43Trade
Mongolia’s land-locked position between two of
the world’s largest countries limits its trading
options. Until the dissolution of the Soviet Union,
most trade (primarily Mongolian imports) was
with Russia. Today, however, China is
Mongolia’s major trading partner, receiving more
than 80% (in trade value) of Mongolia’s exports
and providing nearly 44% of Mongolia’s imports.
Russia still provides a sizable percentage of
Mongolia’s imports (27%), most of which
consists of refined oil products.230,^231 Overall, Mongolia in recent years has run a narrow
trade deficit, although the gap increased significantly during the worldwide recession in
2008.^232
Most of Mongolia’s export revenues come from minerals and energy resources (coal,
crude oil). Combined, these two categories generated roughly 89% of Mongolia’s export
revenues in 2009. Wool, cashmere, and cashmere clothing are the only other significant
exports, totaling roughly 6% of the export trade.
(^233) Major import categories include oil
(more than 17% of import revenues), machinery (11%), clothing (8.5%), electronics and
electrical equipment (6.7%), and articles of iron and steel (5.8%). Wheat and flour are the
primary food imports.^234
http://www.intracen.org/appli1/TradeCom/TP_TP_CI_HS4.aspx?IN=26&RP=496&YR=2009&IL=26
Ores, slag and ash&TY=T
(^229) International Trade Centre, “Trade Performance HS: Exports and Imports of Mongolia–71 Pearls,
Precious Stones, Metals, Coins, etc. (2009, in USD Thousands),” 2011,
http://www.intracen.org/appli1/TradeCom/TP_TP_CI_HS4.aspx?IN=71&RP=496&YR=2009&IL=71
Pearls, precious stones, metals, coins, etc&TY=T
(^230) International Trade Centre, “Trade Performance HS: Imports of Mongolia–00 All Industries (2009, in
USD Thousands),” 2011,
http://www.intracen.org/appli1/TradeCom/TP_IP_CI_P.aspx?IN=00&RP=496&YR=2009&IL=00 All
industries&TY=I
(^231) International Trade Centre, “Trade Performance HS: Imports of Mongolia–27 Mineral Fuels, Oils,
Distillation Products, etc (2009, in USD Thousands), 2011,
http://www.intracen.org/appli1/TradeCom/TP_IP_CI_P.aspx?IN=27&RP=496&YR=2009&IL=27
Mineral fuels, oils, distillation products, etc&TY=I
(^232) Economy Watch, “Mongolia Trade, Exports and Imports,” n.d.,
http://www.economywatch.com/world_economy/mongolia/export-import.html
(^233) International Trade Centre, “Trade Performance HS: Exports and Imports of Mongolia–71 Pearls,
Precious Stones, Metals, Coins, etc. (2009, in USD Thousands),” 2011,
http://www.intracen.org/appli1/TradeCom/TP_TP_CI.aspx?RP=496&YR=2009
(^234) International Trade Centre, “Trade Map–International Trade Statistics: List of Products Imported by
Mongolia,” 2011, http://www.trademap.org/tradestat/Product_SelCountry_TS.aspx